CCRIF will make payments to the Government of Grenada for more than 44 million dollars after the passage of Hurricane Beryl

The CCRIF (Caribbean Catastrophe Risk Insurance Facility) will make payments of approximately US$44 million to the Government of Grenada following Hurricane Beryl in July 2024. This event caused significant damage to the islands of Carriacou and Petite Martinique, affecting buildings, infrastructure, agriculture and ecosystems. In July 2024, after the impact of Hurricane Beryl in Grenada, CCRIF activated the parametric policy that covers tropical cyclones, excess rainfall, earthquakes, fishing, electrical and water services, resulting in a disbursement of US$44 million. covering . This payment represents the largest made by CCRIF to date. CCRIF parametric insurance is designed to provide rapid liquidity to governments following natural disasters, helping to close the financial protection gap and enabling rapid response to urgent needs.